AgdaPkt 2012-05-21 - Laserfiche WebLink

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7.A. - Page 5 breaks, happy hour, and miscellaneous shopping. However, it is not clear from the proposal to what degree this activity would materialize. If the office tenants equip their spaces with significant cafeterias, lounges, and recreational facilities, then the presence of the workers outside of the building could be minimal. The analysis by Sedway Consulting cites a study by the International Council of Shopping Centers which asserts that office workers outside of the regional core spend about $7,620 per year on dining and shopping near their workplace. For the hotel, the Sedway analysis provided by Lowe estimates an average of 1.5 people per guest room and an average occupancy of 65%, resulting in as many as 136 guests per day. Sedway does not estimate the retail spending per guest, but staff anticipates that these visitors are likely to frequent Downtown establishments because of the nature of hotel use, the easy access to restaurants and entertainment, and the constrained hotel site. Sedway's analysis also estimates about 112 employees for the hotel, with about $1,900 per year in Downtown retail spending per worker. The development proposes large floor-plate Class A office space, which is not widely available in the Downtown. Consequently, it should be attractive to new types of tenants for the area. The hotel is a new type of use for powntown and would add a service that is currently lacking. Although there are new residential projects in the planning and building queue, the Downtown residential market is still in its infancy. An additional large apartment building would contribute to the emergence of a strong housing market Downtown. Office tenants have not been identified by Lowe for the project. Although the Downtown Redwood City office market is presently strong, and the developer has expressed confidence that the buildings would be occupied quickly, it is impossible to ensure that the building will be occupied within a defined period of time after the completion of construction, especially without commitments from tenants. Market trends are also strong for for-rent housing in San Mateo County and Lowe asserts that the residential building would be fully leased in short order. Desiqn The design appears to conform to the Downtown Precise Plan. It is important to make this distinction at this time, as there are no architectural plans for the project, only renderings of concepts. The details of design will be resolved during the negotiation process and presented to the Council as a part of a Development Agreement. The architecture of the office building is streamlined Neoclassical, which does not conflict aesthetically with the surrounding building stock. The residential building is also Neoclassical as defined by the Plan, but includes a strong French influence associated with its mansard roof. The buildings are all visually divided into a base, middle, and cap, which contribute a sense of pedestrian scale in large structures. The facades follow the shape of the streets, creating a strong urban presence, and the height limit appears to be met.